Brazil’s trade chamber ‘Camex’ has approved an authorization for the country to open consultations with the World Trade Organization (WTO) Dispute Settlement Body, to challenge subsidies it says India gives to cane growers and sugar exporters, according to various press reports.
China and Brazil have agreed to meet up in the third week of December to discuss punitive tariffs which has seen Brazil’s exports to China dwindle from 71% of share to 8% over the past year, according to Valor Economico.
Brazil has proposed that China introduce a quota for imports of Brazilian sugar that would face a 50% levy to solve a trade dispute between both countries but China is resisting the plan, reports Reuters.
Unica has contracted King & Spalding as independent legal council in Geneva and is also working with the Brazilian think tank Agroicone, to help with data on the Thai sugar industry.
The dispute was over ad campaign about high fructose corn syrup. Several sugar producers including global leader ASR Group alleged in a 2011 lawsuit that a Corn Refiners Association advertising campaign describing high fructose corn syrup as “corn sugar” and “natural” was false.
This settlement ends all of the lawsuits and creates a new relationship between the companies, aimed at leveraging each other’s strengths and accelerating development of competitive supply for biobased isobutanol.